SAS reports year-end loss of $148 million

SAS Scandinavian Airlines reported a year-end net loss of SEK985 million ($148 million), worsened from a SEK338 million net income in the year-ago period.

SAS Scandinavian Airlines A321. By Rob Finlayson
SAS Scandinavian Airlines reported a year-end net loss of SEK985 million ($148 million), worsened from a SEK338 million net income in the year-ago period. The airline said the loss was due to a SEK1.4 billion hit from restructuring costs and other non-recurring items.
“[Our] positive underlying income before non-recurring items of SEK23 million is somewhat better than expectations but otherwise not satisfactory by any measure. ...